Fifteen sugar stocks rose by 2% to 7.97% at 14:18 IST on BSE as India's sugar output fell over 13% to 14.4 million tonnes so far this year on delayed crushing.
EID Parry (India) (up 7.97%), Sakthi Sugars (up 7.12%), Rana Sugars (up 6.48%), Simbhaoli Sugar Mills (up 6.47%), Shree Renuka Sugars (up 5.62%), Oudh Sugar Mills (up 5.61%), Empee Sugars and Chemicals (up 4.91%), Dwarikesh Sugar Industries (up 4.90%), Upper Ganges Sugar & Industries (up 4.88%), Balrampur Chini Mills (up 4.46%), Bajaj Hindusthan (up 3.89%), Dhampur Sugar Mills (up 3.63%), Triveni Engineering & Industries (up 2.41%), DCM Shriram Industries (up 2.15%) and KCP Sugar & Industries Corporation (up 2%), edged higher.
The S&P BSE Sensex was up 39.46 points, or 0.19% to 20,673.67.
Mills had manufactured 16.58 million tonnes of sugar in the corresponding period of the 2012-13 marketing year (October-September), according to industry body Indian Sugar Mills Association (ISMA). Shares of sugar companies rose on expectations that lower output could boost sugar prices.
On sugarcane arrears, ISMA said total cane payment dues of farmers have crossed Rs 12000 crore, of which Rs 8000 crore pertains to Uttar Pradesh and Rs 3000 crore for Karnataka alone as on date, it said in a statement.
On exports, ISMA said about 850,000 tonnes of sugar has been sold in the overseas market till January of this year. Of this, 450,000 tonnes was raw sugar and the rest refined. Another 1.2 to 2 lakh tonnes, mostly raw sugar, are in transit for getting exported, it added.
The country had sugar stock of 11.7 million tonnes till January this year. ISMA, which has pegged sugar output at 25 million tonnes for this year, said it will soon review the estimate figures.
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